https://www.taxtmi.com/forum/issue?id=105905 High seas sales require a domestic HSS agreement executed in India and are treated as transactions between Indian residents; payments cannot be made in foreign currency domestically though the agreement may reference a foreign currency amount with a rupee equivalent or conversion mechanism. Customs assesses duty on the HSS value in rupees, converting any referenced foreign currency at the rate applicable on the bill of entry date or as declared by customs. en-us Sat, 20 Jul 2013 15:20:58 +0530 Thu, 23 Jan 2025 15:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=105905 High seas sales require a domestic HSS agreement executed in India and are treated as transactions between Indian residents; payments cannot be made in foreign currency domestically though the agreement may reference a foreign currency amount with a rupee equivalent or conversion mechanism. Customs assesses duty on the HSS value in rupees, converting any referenced foreign currency at the rate applicable on the bill of entry date or as declared by customs. Discussion-Forum Customs Sat, 20 Jul 2013 15:20:58 +0530 https://www.taxtmi.com/forum/issue?id=105905